https://www.taxtmi.com/caselaws?id=5198 Reassessment under section 147(a) is valid only where the assessing officer has material to form a bona fide belief that income escaped assessment because the assessee failed to make a full and true disclosure of all primary facts. Where the assessee has produced the relevant hundis and books of account showing the loans and interest payments, the duty of disclosure is satisfied by disclosure of primary and material facts; there is no obligation to tell the officer that the documents are bogus or to draw adverse inferences for him. On the material before the Court, no sufficient basis existed for the required belief, so the notice under section 148 was void and the appeal was dismissed. en-us Thu, 04 Jan 1979 00:00:00 +0530 Sat, 19 Oct 2013 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5198 Reassessment under section 147(a) is valid only where the assessing officer has material to form a bona fide belief that income escaped assessment because the assessee failed to make a full and true disclosure of all primary facts. Where the assessee has produced the relevant hundis and books of account showing the loans and interest payments, the duty of disclosure is satisfied by disclosure of primary and material facts; there is no obligation to tell the officer that the documents are bogus or to draw adverse inferences for him. On the material before the Court, no sufficient basis existed for the required belief, so the notice under section 148 was void and the appeal was dismissed. Case-Laws Income Tax Thu, 04 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5198